Marketplace at Four Corners Power Center
National Tenant Lineup | 100% Occupied | Shadow Anchored by Walmart Supercenter
Marketing description
Guggenheim is proud to present the opportunity to acquire 7555-7705 Market Place Drive, Aurora, OH. This 110,532 SF, power center is on 11.36-acre property and is part of the super-regional center Marketplace at Four Corners. The development is on the main commercial corridor of Rt. 43 (Aurora Road) between the two very affluent communities of Aurora and Solon, Ohio and sits at the junction of Cuyahoga, Geauga, Portage and Summit counties. Marketplace at Four Corners is a 675,000 SF regional development and together with the neighboring Shops at Marketplace, are part of a vibrant retail ecosystem encompassing over 1.1 million SF which includes Walmart Supercenter, Target, Home Depot, Kohls, Marshalls, Michaels, HomeGoods, Dick’s, PetSmart and a variety of restaurants, driving consistent center traffic exceeding 6 million visits a year, per Sites USA.
The subject asset is 100% occupied with national tenants, Dick’s Going, Going, Gone!, Ulta Beauty, Old Navy, Gabe’s, Torrid and Barnes & Noble. This regional power center is supported with good access, strong demographics, a growing population of 245,477, average household incomes exceeding $138,000 within a 10- mile radius. Located equidistant between Cleveland and Akron (25 miles), visitors utilize a network of nearby highway arteries (I-480, I-80, I-271 and Rt. 422). Two signalized entrances and monument signs on Rt.43 provide excellent visibility and will soon share access across to the Geauga Lake District. This new mixed use master planned redevelopment of the former Geauga Lake Amusement Park (over 650 acres) will include retail (a new 175,000 SF Menards and a new 157,000 SF Meijer Supermarket - now open), residential (over 700 new residential units of apartments and single family homes), office, senior housing, parks (City of Aurora purchased 48 acres along the lakefront to redevelop into a lake front park, pool, beach area and related amenities), and medical opportunities. The property provides an investor with an opportunity of stabilized income and future upside.
Property Highlights
- High Credit Tenancy – 100% of the occupied GLA is leased to corporately backed national or regional credit tenants.
- Synergistic Retail Environment – The site is part of a thriving regional retail hub, boasting more than 1.1 million square feet of retail space on both sides of State Route 43, with additional development planned. Prominent anchors including Walmart, Target, Home Depot, Kohl’s, Marshalls, Michaels, HomeGoods, and Dick’s Sporting Goods, along with a diverse mix of restaurants, generate consistent consumer traffic. Just four miles south, Aurora Farms Premium Outlets, featuring more than 50 stores, attracts over 3 million visitors annually and further enhances the area’s appeal as a premier shopping destination.
- New Leases and Renewals – Barnes & Noble, Ulta Beauty, and Dick’s Going, Going, Gone! have signed long-term leases and are now all open, bringing the center to 100% occupancy. This leasing momentum is further supported by recent renewal activity from Old Navy and Torrid, both of which executed new lease extensions, demonstrating their long-term commitment to the center.
Investment highlights
- Adjacent to Best-in-Class Retailers – Surrounded by leading national retailers including Walmart Supercenter, Dick’s Sporting Goods, PetSmart, Michaels, Kohl’s, HomeGoods, and Marshalls.
- Affluent Demographics – The surrounding area boasts an average household income of $161,276 within a five-mile radius.
- Below Replacement Cost – Offered at an attractive basis of approximately $119.23 per square foot, significantly below replacement cost.
- High-Quality Construction – Originally constructed in 2004, with subsequent expansions completed in 2014 and 2016, reflecting continued investment and growth.
- Strategic Cleveland MSA Location – Located approximately 25 miles from downtown Cleveland within the Greater Cleveland Metropolitan Statistical Area, the 28th-largest MSA in the United States with a population exceeding 2 million residents.
- Expansive Trade Area – The center draws from a broad regional customer base of nearly 600,000 residents within a 30-minute drive time. According to Placer.ai, the property receives more than 4 million annual visits, demonstrating its position as a dominant retail destination.
- Strong Leasing Momentum – Seven new tenants joined the center during 2024 and 2025, including Barnes & Noble, Dick’s Going, Going, Gone!, Ulta Beauty, Rally House, Hammer & Nails, The Fruit Stand, and Taco Bell.
- Future Area Growth – Additional growth is planned directly across the street, where a new mixed-use development featuring the newly opened Meijer Supermarket and Menards is expected to break ground, further strengthening the area’s retail draw and long-term growth prospects.
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